Two opportunities to reduce poverty
Rampant inflation, food insecurity, and the exchange rate affect many in Haiti. The reduction of poverty, which affects almost 60 percent of the population, is understandably a central goal.
Rampant inflation, food insecurity and the exchange rate are affecting many. The reduction of poverty, which affects almost 60 percent of the population, is a central goal for Haiti.
The goal behind graduation programs and microfinance is the same: extending financial access to poor and excluded people at the lowest level of the economic ladder.
Graduation programs aim to ‘graduate’ extremely poor families out of poverty, and can include consumption support, asset transfers, access to savings, and intensive coaching over a specific time period.
Microfinance means making very small loans to borrowers who typically lack collateral, steady employment or a verifiable credit history.
Another approach to take is to focus on social protection - policies and programs designed to reduce poverty and vulnerability by promoting efficient labour markets, diminishing people's exposure to risks, and enhancing their capacity to manage economic and social risks, such as unemployment, exclusion, sickness, disability and old age.
Expanding Microfinance and Graduation Programs to Combat Povert
The reduction of poverty, which affects almost 60 percent of the population, is a central goal for Haiti. Research paper by Riphard Serent, lecturer of International Economic Relations at Quisqueya University and at Center for International and Diplomatic Studies, examines two possible opportunities to reduce poverty.